Early Life
Herbert Wertheim was born in Philadelphia on May 23, 1939, to Jewish parents. In 1945, his family moved to Miami Beach, Florida. He was diagnosed with dyslexia, and struggled in school. At age 16, he faced truancy charges, which led him to join the U.S. Navy.
Rise to Success
Wertheim's career began in the U.S. Navy where he studied physics and chemistry and worked in naval aviation. He made his first investment in the stock market, buying stock in Learjet. After his time in the Navy, he pursued optometry and founded Brain Power Incorporated (BPI). BPI became the foundation for Wertheim's investment portfolio, and he became the largest individual shareholder in aerospace firm Heico. Wertheim's investment acumen allowed him to build a fortune over five decades through shrewd investments.
Key Business Strategies
Wertheim founded Brain Power Inc. (BPI), a manufacturer of optical tints for eyeglasses, which holds over 100 patents and copyrights. He invested the profits from Brain Power into the stock market and is known for his long-term buy-and-hold investment strategy, focusing on companies he understands. He invested in companies like Apple, Microsoft and Heico, often during their IPOs.
Philanthropy
Wertheim is a committed philanthropist, having donated millions of dollars to various causes, particularly in education and healthcare. He is a founding chairman of the FIU Herbert Wertheim College of Medicine. He and his wife, Nicole, are also members of the Giving Pledge, promising to donate most of their wealth to philanthropic causes.